What a difference three years makes. The last time we spoke about this automobile manufacturer (which is best left unnamed) their data management was in disarray. Many crucial questions were unanswerable:
- Which buildings do we currently lease or own?
- How many of our staff are under-employed?
- Who are the other companies in the industry we can partner with?
- Which of our products are not performing well?
All the data required to answer these questions was simply not there. It was lost, buried or irretrievable. In short, in a mess. Opportunities were being missed.
The Importance and Value of Data Management
Yet things can – and do – change. After three years spent refining their data management, let us see what happens when said organisation encounters the same scenario.
Firstly, to answer which buildings they currently own or lease, there is now the facility master list. It is furnished with the purpose of the building and updated every week using local government area data. Finding the right facility? Easy.
For the second question surrounding the under-employment of existing staff, HR have made their master system data available on the utilisation dashboard. However, to ensure that this sensitive data is protected, they have added in a layer of authorisation: HR’s permission.
And how about those other companies? Again, HR has come to the rescue. Alongside regional job statistics surrounding salaries and recruitment patterns, they have formed a list with up-to-date links to the current recruiters in the industry. Now it is easy to find other companies in the sector. All that remains is to research what they are doing and incorporate this into a bi-annual strategy document. These can then be archived for future reference.
Finally, product profitability and demand are available on a weekly operational cost report. This indicates which products they should withdraw to make way for more profitable product lines. Best of all? It is instantly available.
What’s the Lesson of the Story?
The lesson from this story is vital and it’s something that can easily be in effect:
Learn the value of your data. Know what you have, where you have it and how good it is.
Only then can your organisation answer these and more questions with confidence. Robinson Ryan are here to support you in your own journey as your trusted data management consultants. Contact us and let’s discuss how we can assist.
